NEXTECH3D.AI EXPANDS AI TECH TEAM AND DOUBLES OFFICE SPACE AS DEMAND INCREASES FOR GPT AI PLATFORM AND 3D MODEL PRODUCTION IN HYDERABAD, INDIA
Company is Negotiating Major Licensing Deals For its GPT AI 3D Modeling Technology
TORONTO, ON, Canada – February 22, 2024 - Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), a Generative GPT AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce the expansion of its AI tech team by doubling its office space in Hyderabad, India, to accommodate its expanding team. The Company is also in negotiations for a major license of its GPT AI 3D modeling CAD to 3D and texturing technology. Nextech3D.ai will continue to supply 3D models to the largest brands and .platforms as it gears up increasing revenue and profit margins by signing licensing deals with global manufactures that have CAD files.
3D GPT AI Licensing Technology
The Company's strategic move to license its GPT AI tech is set to remove the traditional barriers of price and volume that have long restricted the accessibility of high-quality 3D modeling technology for e-commerce and other industries. Nextech3D.ai has leveraged its groundbreaking GPT AI powered technology to dramatically slash the cost of 3D models from CAD files to $10 to 20 while producing the highest quality 4K quad mesh photo realistic models, enabling scalability while being highly profitable.
Evan Gappelberg, CEO of Nextech3D.ai commented, “Our GPT AI technology has the potential to open the floodgates for 3D model adoption in this new AI era. We are negotiating with a number of large manufacturers which produce hundreds of thousands of products annually that want to go 3D but can’t afford the traditional cost of $75 to $150/model. We believe that with our new groundbreaking technology enabling breakthrough pricing and scale, that we will land many of these large contracts since the previous friction point has been price and scale.” He continued, “AI is transforming our world and how we think about 3D modeling and the AI that powers the production of 3D models for e-commerce.”
Nextech3D.ai’s spin-out company, “Toggle3D.ai” offers users an intuitive point-and-click interface that revolutionizes the creation of 3D models. By merely importing a CAD file, companies, brands and users can effortlessly use Toggle3D’s user-friendly platform to generate 3D models, apply AI-driven texturing, utilize a virtual photography studio, and much more. This platform is especially transformative for the realm of e-commerce, where the virtual photography studio eliminates the need for physical product photography, saving large brands millions of dollars.
A key aspect of this strategic shift is the licensing of Nextech3D.ai’s technology to major manufacturers, enabling their own employees to create high quality, 4K resolution 3D product models without requiring specialized skills in 3D modeling. This is game changing as it empowers businesses to harness the full potential of 3D modeling internally, while reducing the 3D model production cost by as much as 80%.
Toggle3D.ai is currently in advanced discussions with a large manufacturer for a contract valued in the seven figures. This not only exemplifies the market’s enthusiasm for 3D models, but also signifies the platform’s potential to redefine how businesses approach shopping experiences and 3D models for e-commerce.
India Office
Initially announced in September, 2023, Nextech3D.ai moved operations to Hyderabad, India. The focus on high-scale production and cost savings by setting up operations in India has resulted in growing profit margins for the Company and a significant improvement in operational efficiencies. The initiative has been led by the Company’s Head of Product Operations, Hareesh Achi, who has over a decade of technology experience as a former Microsoft and Meta executive.
The move to India has created a cash flow positive 3D model division for Nextech3D.ai by optimizing production processes and taking advantage of cost-effective resources in the region. With these initiatives and others, the Company is positioning itself for enhanced profitability for years to come in a rapidly evolving market.
Bullish
